Right to Buy Sales Double to 11,000 in a Year

The number of social homes sold through right to buy doubled to hit 11,000 in the last financial year, the latest government statistics reveal. In the final quarter of 2013/14, councils sold 3,376 homes, raising £243 million. The figures showed this took the final figure for the year to 11,238, raising £750 million, compared with 5,944 last year. Just 2,115 replacement homes were started onsite over the course of the year, despite a government promise that all additional homes sold would be replaced on a one-for-one basis. Only a portion of the sales receipts are retained for replacements, with a formula-based calculation sending some of the cash back to the Treasury and some to a council’s general fund. View all statistics for RtB on the GovUK website.